BASEL, Switzerland, March 1, 2011 /PRNewswire/ --
- Sale of Materials Protection business to Lanxess
- Exclusive licensing and supply agreements for related active ingredients and technologies
Syngenta announced today that it has signed an agreement to divest its Materials Protection business to Lanxess. Under the terms of the agreement, Lanxess will purchase intellectual property, registrations and regulatory data specific to Materials Protection. Syngenta will grant Lanxess access to related active ingredients and technologies through exclusive licensing and supply agreements. Employees and fixed assets are not part of the divestment.
Syngenta's Materials Protection business had sales of around $25 million (euro 19 million) in 2010. The transaction is expected to close in April 2011. Financial details have not been disclosed.
Syngenta is one of the world's leading companies with more than 26,000 employees in over 90 countries dedicated to our purpose: Bringing plant potential to life. Through world-class science, global reach and commitment to our customers we help to increase crop productivity, protect the environment and improve health and quality of life. For more information about us please go to www.syngenta.com.
Cautionary Statement Regarding Forward-Looking Statements
This document contains forward-looking statements, which can be identified by terminology such as 'expect', 'would', 'will', 'potential', 'plans', 'prospects', 'estimated', 'aiming', 'on track' and similar expressions. Such statements may be subject to risks and uncertainties that could cause the actual results to differ materially from these statements. We refer you to Syngenta's publicly available filings with the U.S. Securities and Exchange Commission for information about these and other risks and uncertainties. Syngenta assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors. This document does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer, to purchase or subscribe for any ordinary shares in Syngenta AG, or Syngenta ADSs, nor shall it form the basis of, or be relied on in connection with, any contract therefor.
Syngenta International AG
Tel: +41 61 323 23 23
Fax: +41 61 323 24 24
Switzerland +41 61 323 2323
Switzerland +41 61 323 5059
USA +1 202 737 6521
Switzerland +41 61 323 7812
USA +1 202 737 6520